January 11, 2016
Q&C Hotel in downtown New Orleans sold for $51.2 million
ADVOCATE STAFF REPORT | Jan. 8, 2016; 4:14 p.m. | The Advocate The century-old Q&C Hotel in the Central Business District has been sold for $51.2 million. The 12-story, two-building hotel, …

Read more

ADVOCATE STAFF REPORT | Jan. 8, 2016; 4:14 p.m. | The Advocate

The century-old Q&C Hotel in the Central Business District has been sold for $51.2 million.

The 12-story, two-building hotel, located at 344 Camp St., was sold to Encore Hospitality LLC, a subsidiary of Texas-based Encore Enterprises Inc., in a joint venture with KBS Strategic Opportunity REIT II, a California-based real estate investment trust.

The hotel was sold by Northview Hotel Group, of Connecticut, which purchased it in 2013, when it was known as the Queen & Crescent. KBS announced the acquisition Dec. 22.

“The Q&C Hotel/Bar is a historical landmark of New Orleans, and we intend on extending its legacy as a cornerstone for business and leisure travelers, as well as serving as one of the city’s premier wedding venues,” said Bharat Sangani, chairman of Encore Enterprises.

Built in 1913 and fully renovated in 2014, the Q&C Hotel features 196 guest rooms, a bar and restaurant, as well as 2,600 square feet of meeting space.

The hotel will be branded under Marriott’s Autograph Collection of hotels, a lineup of iconic, independent properties.

“We are thrilled to acquire the Q&C Hotel in the dynamic market of New Orleans,” said Brian Ragsdale, executive vice president at KBS. “We believe New Orleans’ robust tourism industry, coupled with the property’s recent renovations, will make it a strong asset in the KBS Strategic Opportunity REIT II portfolio.”

Article Located Here

Recent

Continuous Offering NTR NAV and Return Data

Continuous Offering NTR NAV and Return Data

Blue Vault was built on the belief that transparency, education and access are the essential ingredients for wealth advisors to bring alts to the forefront of their practices.

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now